Equity Markets In Transition
DOWNLOAD eBooks
Download Equity Markets In Transition PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Equity Markets In Transition book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Equity Markets In Transition
DOWNLOAD eBooks
Author : Reto Francioni
language : en
Publisher: Springer
Release Date : 2017-01-17
Equity Markets In Transition written by Reto Francioni and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-17 with Business & Economics categories.
This book underscores the complexity of the equity markets, the challenges they face, and the fact that they are still a work in process. Three interacting forces drive market change: competition, technology change, and regulatory change. The markets have one major objective in particular to achieve: the delivery of accurate price discovery for both traders and the broader market. Are we getting it? Are competition, technology, and regulation acting together to improve market quality, or are they adding to the complexity of the markets and making accurate price discovery harder to achieve? The difficulty of addressing these issues and reaching a consensus regarding public policy is reflected in the diverse opinions expressed in this book. From an institutional perspective, the volume’s contributors highlight the interconnectedness of all aspects of the internal and external environment within which exchange organizations act. Equity Markets in Transition underscores how technological evolution and recent regulatory changes have influenced the business, and how these developments have opened new possibilities for exchange organizations and for equity markets as a whole, including such issues as the impact of equity markets on job creation. The book combines both a theoretical and a practical approach. Part I presents a theoretical overview of the international equity market business, including an overall description of the value chain of stock trading that includes deep dives on every decisive step. Part II contains contributions from various business specialists who have specific practical and academic knowledge of the different steps. Equity Markets in Transition represents a unique combination of theoretical and practical analysis that offers first-hand insights on all relevant interactions and interrelations among the various parts of the exchange business, with an emphasis on facilitating analysis of the status quo and of emerging trends regarding business models, regulation, and the development of the competitor, customer and investor sides.
Capital Market Development In Transition Economies Country Experiences And Policies For The Future
DOWNLOAD eBooks
Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 1998-10-06
Capital Market Development In Transition Economies Country Experiences And Policies For The Future written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-10-06 with categories.
The book, the first time, critically evaluates the evolution of both equity and securities markets in transition economies.
International Capital Markets
DOWNLOAD eBooks
Author : John Eatwell
language : en
Publisher: Oxford University Press, USA
Release Date : 2002
International Capital Markets written by John Eatwell and has been published by Oxford University Press, USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Business & Economics categories.
Comprising 19 commissioned articles, this collection addresses the global issues of volatility in equity and foreign exchange markets and the regulatory scene in developed and emerging markets.
The Development Of Equity Capital Markets In Transition Economies
DOWNLOAD eBooks
Author : Dirk Willer
language : en
Publisher: Physica
Release Date : 2012-03-14
The Development Of Equity Capital Markets In Transition Economies written by Dirk Willer and has been published by Physica this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03-14 with Business & Economics categories.
This book addresses two different but related topics that can arise during the development of equity capital markets and which could possibly hinder their development: partial privatisation and shareholder rights. Both issues are developed in the context of transition economies in general and Russia in particular. Chapter 2 puts forward a theory of partial privatisation, i. e. a model that aims to explain why the state keeps some residual shares. Several recent surveys for Russia have shown that the state does often not actively use the voting rights of its residual shares. If this was true, partial privati sation could entrench management and hinder restructuring. It would also limit the supply of shares, which could lead to low liquidity. This would be likely to slow down the development of the equity capital market. However, the model in chapter 2 shows that it can be rational to hold back shares from sale in order to maximise privatisation receipts. Another issue which holds back the development of this market is the fact that shareholder rights can not be guaranteed by the state due to weak institutions. Chapter 3 contains an empirical examination of which firms honour shareholder rights and also provides a direct link between this problem and partial privatisation. Maybe surprisingly, some weak evidence is presented that shows that the residual state holding does not exert a negative influence with respect to the introduc tion of shareholder rights, but might even be a weak positive force.
The Role Of Credit Markets In A Transition Economy With Incomplete Public Information
DOWNLOAD eBooks
Author : Mr.Jorge Roldos
language : en
Publisher: International Monetary Fund
Release Date : 1996-02-01
The Role Of Credit Markets In A Transition Economy With Incomplete Public Information written by Mr.Jorge Roldos and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-02-01 with Business & Economics categories.
In this paper we explore some of the informational problems that constrain the development of credit markets in transition economies. We characterize investment patterns under uncertainty and high costs of entry, when agents learn about the ultimate value of enterprises through production in a Bayesian way. Inefficiencies due to the lack of public information reduce the average return to capital. Under asymmetric information, credit would go to activities that can provide enough co-finance. Credit markets may fail to develop for a while if there is not enough individual wealth to complement credit. Once they operate, credit markets may magnify distortions in equity markets, such as those due to spontaneous privatization. An argument for the sequencing of capital market liberalization is provided.
Capital Market Development In Transition Economies
DOWNLOAD eBooks
Author : Eva Thiel-Blommestein
language : en
Publisher: Organisation for Economic Co-operation and Development
Release Date : 1998
Capital Market Development In Transition Economies written by Eva Thiel-Blommestein and has been published by Organisation for Economic Co-operation and Development this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.
On cover & title page: OECD proceedings. - Papers from "Conference on the Development of Securities Markets in Central & Eastern Europe & Russia", Paris, 20-21 October 1997
A Time Varying Parameter Model To Test For Predictability And Integration In Stock Markets Of Transition Economies
DOWNLOAD eBooks
Author : Michael Rockinger
language : en
Publisher:
Release Date : 2000
A Time Varying Parameter Model To Test For Predictability And Integration In Stock Markets Of Transition Economies written by Michael Rockinger and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Stock exchanges categories.
China S Financial Transition At A Crossroads
DOWNLOAD eBooks
Author : Charles W. Calomiris
language : en
Publisher: Columbia University Press
Release Date : 2007
China S Financial Transition At A Crossroads written by Charles W. Calomiris and has been published by Columbia University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with China categories.
China's increasing role in global economic affairs has placed the country at a crossroads: how many and what types of international capital-market transactions will China permit? How will China's financial system change internally? What kind of relationships will the Chinese government develop with foreign financial institutions, especially with those based in the United States? Can China broker a sustainable partnership with America that will avoid sending economic shock waves throughout the world? Drawing on the contemporary research of prominent international scholars, the experts in this volume outline the trajectory of China's financial markets since the advent of reform and anticipate their uncertain future. Chapter authors and commentators include Geert Bekaert, Loren Brandt, Lee Branstetter, Mary Wadsworth Darby, Michael DeStefano, Barry Eichengreen, Campbell Harvey, Fred Hu, Xiaobo Lu, Christian Lundblad, Ailsa Roell, Daniel Rosen, Shang-Jin Wei, Jialin Yu, and Xiaodong Zhu. The book begins with an overview of the history of financial-sector development, regulation, and performance and then focuses on the banking sector, discussing the progress, challenges, and prospects of current sector reform. Subsequent chapters describe the role of foreign capital in China's development and analyze the changes in capital flows and controls over time; explore various explanations for China's composition of foreign-capital and foreign-exchange policies, particularly the factors shaping China's reliance on foreign direct investment; and provide an international, comparative perspective on the remarkable growth experience of China and the contribution of its institutional environment to that experience. Contributors dispute the belief that stock market listing has done little to reform state-owned enterprises and take a hard look at the exchange rate regime choice for China, considering the potential long-run desirability of flexibility and the appropriate sequencing of reforms in foreign-exchange policy, domestic banking reform, and capital-market openness. The book concludes with a roundtable discussion in which prominent economists, including Peter Garber, Robert Hodrick, John Makin, David Malpass, Frederic Mishkin, and Eswar Prasad, debate the pace of the appreciation of China's currency and the likely consequences of that policy within and outside of China.
The Capital Markets
DOWNLOAD eBooks
Author : Gary Strumeyer
language : en
Publisher: John Wiley & Sons
Release Date : 2017-01-30
The Capital Markets written by Gary Strumeyer and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-30 with Business & Economics categories.
The Capital Markets: evolution of the financial ecosystem is the new standard providing practical text book style coverage of this dynamic market and its products. Written by the former President of BNY Mellon Capital Markets, LLC for both financial professionals and novices, The Capital Markets provides a comprehensive macro view of the marketplace and how its products operate. The subject matter offers an authoritative discussion of the fundamentals of both, the fixed income and equity markets, underwriting, securitizations, derivatives, currency among other products through the lens of leading industry practitioners. Key Learning Concepts Understand the impact of both global and domestic regulatory changes Learn about the products that holistically make up the capital markets Explore the components of the infrastructure that underpins these markets Examine the tools used for trading and managing risk Review new product innovations
The Quality Of Our Financial Markets
DOWNLOAD eBooks
Author : Robert A. Schwartz
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-11-29
The Quality Of Our Financial Markets written by Robert A. Schwartz and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-29 with Business & Economics categories.
The structure and operations of the US equity markets have evolved dramatically in recent decades with the advent of major technology and regulatory changes. Nothing short of a groundbreaking shift has occurred in the securities industry as the transition has been made from predominantly manual, human intermediated trading to predominantly electronic trading. By many measures, commission, spreads and market impact costs have been dramatically reduced in recent years. But does that mean that market quality has improved? That is the key question addressed in this book, titled after the Baruch College Conference, “The Quality of Our Financial Markets: Taking Stock of Where We Stand.” Featuring contributions from a distinguished panel of practitioners, academicians, and regulators, this volume offers a penetrating and timely account of the most current issues in market quality, covering such topics as high-frequency trading; the Flash Crash of May 6th, 2010; dark pools; lit pools; fragmentation; disruptive and advanced technologies. And, very significantly, it takes a close look at the impact and influence of regulation. The Zicklin School of Business Financial Markets Series presents the insights emerging from a sequence of conferences hosted by the Zicklin School at Baruch College for industry professionals, regulators, and scholars. Much more than historical documents, the transcripts from the conferences are edited for clarity, perspective and context; material and comments from subsequent interviews with the panelists and speakers are integrated for a complete thematic presentation. Each book is focused on a well delineated topic, but all deliver broader insights into the quality and efficiency of the U.S. equity markets and the dynamic forces changing them.